Our server costs ~$56 per month to run. Please consider donating or becoming a Patron to help keep the site running. Help us gain new members by following us on Twitter and liking our page on Facebook!
Current time: March 28, 2024, 1:14 pm

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Does rasising the corporate tax rate help or hurt?
#1
Does rasising the corporate tax rate help or hurt?
According to the non biased CBO raising the corporate tax rate will hurt workers by 20% and also hurt businesses? If this is true and you trust the CBO then why does Biden want to do it? Having known this now does that make you regret he's president? The CBO don't lie and it's non partisan.
Reply
#2
RE: Does rasising the corporate tax rate help or hurt?
Citation please?

An article about proposed tax increases:

https://www.forbes.com/sites/sarahhansen...40794239ac

I think Biden should push these through.
Reply
#3
RE: Does rasising the corporate tax rate help or hurt?
https://www.cbo.gov/sites/default/files/...ence_1.pdf
Reply
#4
RE: Does rasising the corporate tax rate help or hurt?
(March 30, 2021 at 5:38 pm)jasonelijah Wrote: According to the non biased CBO raising the corporate tax rate will hurt workers by 20% and also hurt businesses? If this is true and you trust the CBO then why does Biden want to do it? Having known this now does that make you regret he's president? The CBO don't lie and it's non partisan.

Between 1945 and 1980 the effective tax rate at a couple of points on the top 1% was 90%. But basically 50% after tax cuts. The Reagan erra has  been fucking absurd.
Reply
#5
RE: Does rasising the corporate tax rate help or hurt?
You realize that is from 2011, and is a preliminary paper for discussion, not an official opinion of the CBO?

I haven't read the whole thing, but I see a reference a 2009 paper about how every percent of extra tax has such-and-such negative effect on the economy.

Those simple tropes take on a life of their own. Yes, higher taxes reduce some hiring and re-investment. However, corporations mostly funneled their 2017 tax reductions owners (through stock buybacks and increased cash). Not many really invested in anything, as one would expect when the economy was already going well.
Reply
#6
RE: Does rasising the corporate tax rate help or hurt?
So do you trust the CBO that raisiing it is bad for workers and for the economy? Or is this one you disagree with the CBO on? And does this change your vote?
Reply
#7
RE: Does rasising the corporate tax rate help or hurt?
(March 30, 2021 at 6:04 pm)jasonelijah Wrote: So do you trust the CBO that raisiing it is bad for workers and for the economy? Or is this one you disagree with the CBO on? And does this change your vote?

Do you not know how to read?

Quote:These papers are not subject to CBO’s formal review and editing processes. The analysis and conclusions expressed in them are those of the authors and should not be interpreted as those of the Congressional Budget Office.

- ibid.
[Image: extraordinarywoo-sig.jpg]
Reply
#8
RE: Does rasising the corporate tax rate help or hurt?
There's other articles about the cbo claiming its bad for workers. Even if you just as googgle it tells you why it's a bad idea,
Reply
#9
RE: Does rasising the corporate tax rate help or hurt?
(March 30, 2021 at 6:22 pm)jasonelijah Wrote: There's other articles about the cbo claiming its bad for workers. Even if you just as googgle it tells you why it's a bad idea,

Then cite them.
[Image: extraordinarywoo-sig.jpg]
Reply
#10
RE: Does rasising the corporate tax rate help or hurt?
Just type into google "does raising the corporate tax work" and it says this at the top

Raising corporate income taxes lowers worker wages, which leads to increased unemployment. Using 1970-2007 data from the United States, a Tax Foundation study found that for every $1 increase in state and local corporate tax revenues, hourly wages can be expected to fall…

Do corporate taxes get passed onto the consumer?


Owners and managers of corporations often assume, just as incorrectly, that the tax is simply passed along to consumers. This very vagueness about who pays the tax accounts for its continued popularity among politicians. The federal corporate income tax differs from the individual income tax in two major ways.



see just like that, it's fucking google broski

Can anyone find any info on where the CBO stand on the corporate tax? I'm starting to doubt my own research.

What does the Congressional Budget Office assume with respect to the tax incidence of corporate taxes? Consumers of the corporations' products bear the entire tax burden. Consumers of the corporations' products bear half the tax burden and the owners of capital bear half the tax burden.



SO there ya go, you trust my source now, it's just google.
Reply



Possibly Related Threads...
Thread Author Replies Views Last Post
  Biden had to walk back a tax increase jasonelijah 6 812 March 31, 2021 at 5:45 pm
Last Post: The Architect Of Fate
  Warren's Wealth Tax Yonadav 5 896 January 25, 2019 at 3:24 pm
Last Post: Brian37
  US - raise the gas tax onlinebiker 55 3139 November 30, 2018 at 10:25 am
Last Post: BrianSoddingBoru4
  Unbelievable! Paul Ryan praises $1.50/week tax cut! Jehanne 14 2514 February 6, 2018 at 2:26 pm
Last Post: The Grand Nudger
  AP says 90% of Workers get Tax Cut Neo-Scholastic 64 5068 February 4, 2018 at 12:13 am
Last Post: Brian37
  How Bad Is The Senate Tax Bill? Minimalist 41 6012 December 12, 2017 at 5:14 am
Last Post: downbeatplumb
  The GOP's turd of a tax bill Jackalope 34 3998 November 14, 2017 at 5:17 pm
Last Post: Haipule
  Senate Republicunt Assholes Prepare Their Own Tax Plan Minimalist 7 1265 November 9, 2017 at 8:12 am
Last Post: Brian37
  Ann Coulter Reminds the WLB That His Racist Fans Don't Care About Tax Cuts Minimalist 29 6684 September 1, 2017 at 6:27 pm
Last Post: dyresand
  Just attempted to have a civil discussion with a Trump supporter about his tax cuts NuclearEnergy 6 1362 April 27, 2017 at 10:49 am
Last Post: Minimalist



Users browsing this thread: 1 Guest(s)